Onvest Oy will be divided into two new companies

Onvest Oy’s owners have agreed on transactional arrangement where Onvest Oy is going to demerge into two new companies to be founded. After the arrangement is completed Maarit Toivanen-Koivisto with her children will own one of the companies to be founded and Marja Toivanen and Maria Toivanen-Warras will own the other company to be founded. The existing Onvest Oy will be dissolved. The target is to complete the arrangement by June 30th, 2018.

The owners of Onvest Oy have had a long-term commitment to secure the continuity of the successful business. The arrangement will create two strong companies. The new companies will have assets that enable long-term and well-planned development of the operations as well as possible expansion of the business according to the risk profiles and expected return set by the companies.

The new company to be founded and owned by Maarit Toivanen-Koivisto and her children will be called Conficap Oy. Conficap’s business will consist of Are Group, Onvest Sijoitus Oy and real estate investment business. The real estate investment business will include Onvest Oy’s foreign real estate investments as well as shareholdings in domestic and foreign real estate development projects to start with. Managing director of Conficap Oy will be Timo Alamiekkaoja. Conficap’s head office will be located in the existing Onvest Oy’s premises, address: Ratatie 11 B, 01300 Vantaa, Finland.

The new company to be founded and owned by Marja Toivanen and her daughter Maria Toivanen-Warras will be called Onvest Oy. The new Onvest Oy will consist of Feon Oy and most of Onvest Oy’s direct domestic real estate ownerships in Finland. During the establishment phase Hanna Ekdahl is responsible for the operations and the management of the new Onvest. In the future she will continue as the head of real estate investments of the new Onvest Oy. The head office of the new Onvest Oy will be located at Teollisuuskatu 33, 00510 Helsinki, Finland. Feon Oy’s headquarters are located at the same address.

Conficap Oy and the new Onvest Oy will continue their business as independent companies based on values and experience of a Finnish family company. The business of both companies will be guided by commitment, renewal and controlled risk taking.

During the demerger process the Onvest Group’s business units continue their daily operations normally. Onvest Oy’s board of directors and managing director continue in the lead of the company until the demerger is completed. The target is to complete the arrangement by June 30th, 2018.

Onvest Oy’s over 100-year-old history as a family company has many remarkable events and turning points. The ongoing arrangement is a unique opportunity where Onvest Oy’s owners are committed to develop the new companies to become competitive, reliable and responsible family driven businesses in Finland.

For further information:
Timo Alamiekkaoja, managing director, Onvest Oy
email: timo.alamiekkaoja@onvest.fi, tel. +358 10 400 6440

 

Onvest Oy press release

Feon information letter for suppliers

Onninen’s Steel business is transferred to a new company Feon Ltd as of May 1st 2016

Dear Supplier,

As disclosed in our press release on 12 January 2016, Onvest is selling its subsidiary Onninen to Kesko. Onninen’s steel business is not included in the acquisition. Steel business continues as Feon Ltd, an independent subsidiary to Onvest. Feon Ltd headquarter is also moving to new premises.

All changes will be effective as of May 1st 2016

There will be no changes to the operations of our steel business or the service center in Hattula. All the familiar buyers, sales staff and contact persons will remain at your service to address needs related to devices, steel-, and metal construction.

A business transfer break in the steel business 29.4.-2.5.2016

Due to the business transfer, there is a break in the steel business between 29.4.-2.5.2016 and our operations are closed. During this break we are not able to receive or deliver any goods. After this period our operations will continue normally.

Open steel orders as of 29.4.

All open steel business purchase orders as of 29.4. are transferred from Onninen Oy to Feon Ltd. Goods are delivered to Feon Ltd after 29.4. and invoicing is directed to Feon Ltd. New purchase orders will be sent to suppliers from Feon Ltd in the end of April as soon as the new ERP-system is in use.

To ensure good relationship and smooth co-operation after the business transfer we would appreciate the following actions from your side:

  • Please inform your credit department of the new company Feon Ltd
  • Please open new Feon Ltd company (Business ID 2733038-4) to your system
  • Please confirm new customer number by 15th of April

For further information, please contact:

Martti Kalliala, Sourcing Director
Mobile +358 40 503 2070
martti.kalliala@feon.fi

 

Kind regards,

Petri Kalliokoski
Managing Director
Feon Ltd

Onninen’s Steel business is transferred to a new company Feon Ltd as of May 1st 2016

Dear Customer,

As disclosed in our press release on 12 January 2016, Onvest is selling its subsidiary Onninen to Kesko. Onninen’s steel business is not included in the acquisition. Steel business continues as Feon Ltd, an independent subsidiary to Onvest. Feon Ltd headquarter is also moving to new premises.

All changes will be effective as of May 1st 2016

There will be no changes to the operations of our steel business or the service center in Hattula. All the familiar buyers, sales staff and contact persons will remain at your service to address needs related to devices, steel-, and metal construction.

A business transfer break in the steel business 29.4.-2.5.2016

Due to the business transfer, there is a break in the steel business between 29.4.-2.5.2016 and our operations are closed. During this break we are not able to receive or deliver any goods. After this period our operations will continue normally.

Open steel orders as of 29.4.

All open orders as of 29.4. are transferred from Onninen Oy to Feon Ltd. Goods are delivered to customers after 29.4. and invoices are sent by Feon Ltd. Customers will also receive new order confirmations from Feon Ltd.

For further information, please contact:

Sami Aro
Business Manager, General Engineering
+358 40 163 2150
sami.aro@feon.fi

Mika Kortelainen
Business Manager, Metal Construction
+358 40 483 5473
mika.kortelainen@feon.fi

Juha Kangasaho
Business Manager, Steel Construction
+358 400 202 137
juha.kangasaho@feon.fi

Kind regards,

Petri Kalliokoski
Managing Director
Feon Ltd

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